Friday, June 7, 2019

welcome China Railway and Rolling Stock Corporation into your area

4-8-2019 China Railway and Rolling Stock Corporation (CRRC), a $33 billion, 183,000 worker-strong state-owned conglomerate that is now the largest rolling stock producer in the world, according to the report. “While it is owned by the Chinese government, CRRC is controlled by the Communist Party of China." https://www.freightwaves.com/news/railroads/us-rail-interests-see-china-as-major-security-threat

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5-9-19 CRCC has shown its ability to dominate markets using this method in Australia. After it was allowed into the Australian market close to 10 years ago, it eventually acquired one of the three main Australian rail companies, and the two others went out of business.

The Chinese company already has been using the same tactic in the United States. Erik Olson, vice president of Rail Security Alliance, said that in Boston, CRCC was bidding at about half the price quoted by its competitor.

“The Boston one is particularly interesting because the second-lowest bid was from Bombardier, which was around $1 billion, and CRCC came in at $569 million, [CRCC] don’t have to make money, so they can do whatever they want.”…

6-6-2019Cranes lift components of Tunnel Boring Machine (TBM) in Moscow, capital of Russia, June 3, 2018. Since August 2017, China Railway Construction Corporation Limited (CRCC) has been building a 4.6-km section and three stations on the "Large Circle Line" in Moscow, which will be completed by the end of 2020. In February this year, CRCC won another metro construction contract and is expected to start tunneling in December 2019. (Xinhua/Bai Xueqi) http://www.xinhuanet.com/english/2019-06/06/c_138119988.htm

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-Washington, D.C. metro

6-5-2019 CRRC is already the largest manufacturer of metro rail cars in the world and is building rail cars for Los Angeles, Philadelphia and Chicago. It was also a winner of an MTA Genius Transit Challenge in 2018 and has promised to invest its own funds to develop a next generation subway car for New York City. The company is also reportedly bidding on a $500 million WMATA contract. https://thehill.com/policy/technology/446997-lawmakers-target-chinese-rail-cars-over-security-concerns